Scammers Behind Trump Digital Gold Token Make Off With $8.2M

A cryptocurrency scam involving the token Trump Digital Gold (GOLD) has been uncovered by blockchain security firm GoPlus. The scammers hijacked the realtrumpcoins[.]com website and @realtrumpcoins1 social media account to promote the fake token, artificially inflating its market capitalization to $60 million before selling off their holdings and disappearing with approximately $8.2 million.

The attackers gained control of the legitimate-looking website and associated social media account, using them to lend credibility to the GOLD token. The developers' funding was traced back to the KuCoin exchange, indicating a coordinated effort to launder proceeds.

The scammers also issued a second token, Trump Digital Platinum (PLATINUM), which contained malicious code capable of draining the balances of any holder who interacted with it.